Answer:
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ABC Co. uses a perpetual inventory system and uses the FIFO cost flow assumption. During the month, it had two sales. Calculate the dollar value of its cost of goods sold for the first sale made on Jan. 10.
The cost of goods sold in dollars for the first sale made on Jan. 10, using FIFO, is $141.
What is the FIFO method?FIFO means First-in, First-out.
The FIFO inventory method assumes that the Jan. 10 sales of 11 units were made from goods in stock on January 1 and the purchase on Jan. 5.
Using FIFO under the perpetual inventory system, the cost of goods sold on Jan. 10 is calculated as follows:
Question Completion Data and Calculations:Jan 1 Beginning Inventory 8 at $12= $96
Jan 5 Purchase 12 at $15= $180
Jan 25 Purchase 10 at $18= $180
Jan 10 Sale 11 units x $50 each
Jan 30 Sale 3 units x $55 each
Cost of goods sold on Jan. 10 using FIFO = 141 (8 x $12 + 3 x $15)
Thus, the cost of goods sold in dollars for the first sale made on Jan. 10, using FIFO, is $141.
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A high price-earnings ratio for a stock indicates that either the stock is a. overvalued or people are relatively pessimistic about the corporation's prospects. b. undervalued or people are relatively optimistic about the corporation's prospects. c. undervalued or people are relatively pessimistic about the corporation's prospects. d. overvalued or people are relatively optimistic about the corporation's prospects.
A high price-earnings ratio for a stock indicates that either the stock is overvalued or people are relatively optimistic about the corporation's prospects.
What is the price-earnings ratio?The price-earnings ratio refers to the ratio of a company's share price to the company's earnings per share. The ratio is used for valuing companies.
The overvalued or people that are relatively optimistic about the corporation's prospects are indicated by a high price-earnings ratio for a stock.
Therefore, D is the correct option.
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The purpose of insurance is to provide you with financial protection against a possible risk. In Bummer, risk is generated by the Wheel of Bummers. Describe how you felt each time you spun the Wheel of Bummers, both when you had plenty of money and when you were short on cash.
When an individual spins the Wheel of Bummers, one feels the risk involved and the likelihood of winning.
What is insurance?It should be noted that insurance simply means a contract that is gotten to reduce the risk incurred on an asset.
In this case, when an individual spins the Wheel of Bummers, one feels the risk involved and the likelihood of winning. When there is plenty of money, one will not really feel the impact of losing unlike when there is no money or short of cash.
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Using the curve which letter represents efficiency?
A
E
B
None
Analytical procedures are audit methods of evaluating financial statement accounts by studying and comparing relationships among financial and nonfinancial data. The primary purpose of analytical procedures conducted during the planning stages is to: Multiple Choice identify the appropriate schedules to be prepared by the client. identify unusual conditions that deserve additional audit effort. determine the existence of unrecorded liabilities or overstated assets. identify the types of errors or frauds that can occur in transactions.
The primary purpose of analytical procedures conducted during the planning stage is identifying unusual conditions that deserve additional audit effort.
What is analytical procedures?Analytical procedures are audit methods of evaluating financial statement accounts by studying and comparing relationships among financial and nonfinancial data.
To identify unusual conditions that deserve additional audit support is the primary purpose of analytical procedures conducted during the planning stage.
Therefore, B is the correct option.
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Under the market system, ______ coordinate the decisions made by households and businesses.
Under the market system, prices coordinate the decisions made by households and businesses.
What is a market system?It should be noted that a market system simply means an economy whereby the individual makes choices in the market and decisions.
In this case, under the market system, prices coordinate the decisions made by households and businesses.
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Stevie earned $600 this week. she used $100 toward paying off her credit card and $20 went into savings, for a total of $120, which is 20% of her income. what money managing system is she likely using?
Answer:
600-100-20=480
Explanation:
50 30 20 rule
The money managing system is she likely using 50 30 20 rule.
What is the 50 30 20 rule?The 50/30/20 rule is a simple budgeting technique that can assist you in managing your money in an efficient, straightforward, and sustainable manner. The general rule of thumb is to allocate 50% of your monthly after-tax income for needs, 30% for wants, and 20% for savings or debt repayment.
That age-old conundrum can be resolved and your spending habits can be made more structured by using the 50/30/20 guideline. Whether you're trying to pay off debt or save money. It might make it simpler for you to achieve your financial objectives.
According to the norm, you should devote up to 50% of your after-tax income to necessities and commitments that are essential to you. The remainder should be divided into 30% for anything else you might want, 20% for savings, and 10% each for debt reduction and saves.
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The failure of a licensee to comply with the rbs program requirements shall be grounds for.
The failure of a licensee to comply with the RBS program requirements shall be grounds for disciplinary action.
What is RBS ?RBS is stands for Responsible Beverage Service training that teaches the responsible way of behaving to alcoholic and beverages and the side effects of alcohol. The main motive of this service training is to keep the families, customers, and the economy thrive as the people are safe and healthy then only the economy of the country is healthy.
As part of registering their servers in the RBS Portal, servers must pay $3 to the Department. This payment is not transferable. Additionally, the authorized RBS training provider that servers choose may require a separate payment from them. Depending on the approved training provider, RBS training has a range in price.
Thus, it is disciplinary action.
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The principle of exceptions allows managers to focus on correcting variances between.
Answer:
The principle of exceptions allows managers to focus on correcting variances between standard costs and actual costs.
In almost all multiple cash flow calculations, it is implicitly assumed that the cash flows occur at the _____ of each period.
It is assumed that the cash flows occur at the end of each period.
What is the occur period of the cash flow?Cash flow is the statement depicts the complete information about the money received or being spent by the company during the period of time.
Cash Inflows refers to the amount received, whereas cash outflows represents the money spent by the firm.
It is generally occur in period of 90 days.
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In preparing a company's statement of cash flows using the indirect method, the following information is available: Net income $ 58,000 Accounts payable increased by 18,600 Accounts receivable decreased by 25,600 Inventories increased by 6,200 Depreciation expense 31,800 Net cash provided by operating activities was:
Based on the information available, the net cash from operating activities is $127,800.
How much cash did the company make from operations?This can be found as:
= Net income + Increase in Accounts payable + Decrease in account receivable - Increase in inventory +Depreciation
Solving gives:
= 58,000 + 18,600 + 25,600 - 6,200 + 31,800
= $127,800
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why do large media companies have so much control
Answer: Big Tech companies thrive on consumer data.
Explanation: So you can limit there power by imposing
Your first job is to settle the dispute between the owners. To settle the dispute, you need to ensure that both owners understand the primary differences between consumer transactions and business transactions. As you work on your explanation, you reflect on the characteristics that make business transactions different than consumer transactions. How would you describe the demand for business products
Answer:
Inelastic: Demand for business goods tends to be me more inelastic than demand for consumer goods.
Explanation:
I already did this before. ur welcome
Blake chose to go to college instead of starting a full-time career after high school. he sacrificed four years of wages while obtaining his degree. what is the term used to identify the cost of his choice?
The term opportunity cost is used to designate the cost of Blake's choice.
What is opportunity cost?It is an economic term to represent a value placed on an opportunity given up when a choice is made. That is, opportunity cost represents the value of one choice over another.
So Blake's choice to go to college rather than start a full-time career after high school comes with an opportunity cost.
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Which inventory costing method will produce an amount for cost of goods sold that is closest to current market value?.
The FIFO (First in First out) technique of inventory costing will result in a COGS amount equal to market value.
What is the First in first out method?
First in, first-out (FIFO) is an uncomplicated approach to inventory valuation based on the presumption that commodities acquired or created first are sold first. This implies that older inventory is distributed to customers before fresh inventory, in theory.
FIFO is the method used to calculate the cost of goods sold using cost flow assumptions. The FIFO approach is predicated on the idea that the oldest items in an organization's inventory have already been sold.
Thus, the FIFO method will be able to produce a number of COGS equal to the market value.
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The local community college wants to increase its online offerings. To do so, the college will most likely need to purchase a(n) ______.
The local community college wants to increase its online offerings. Hence, to do so, the college will most likely need to purchase a learning management system (LMS).
What is a learning management system (LMS)?A software application for the administration, documentation, tracking, reporting, automation and transport of tutorial courses, education programs, or mastering and improvement programs is referred to as a learning management system.
Therefore, the local community college can purchase a learning management system for expanding its online offerings.
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The securities and exchange commission is responsible for ______. multiple choice question. preparing a prospectus regulating various stock exchanges ensuring companies are tax compliant listing stock transactions on the nyse
Answer:
regulating various stock exchanges
Explanation:
Recently, Hale Corporation announced the sale of 2.5 million newly issued shares of its stock at a price of $21 per share. Hale sold the stock to an investment banker, who in turn sold it to individual and institutional investors. This is a secondary market transaction. True
Based on the fact that HALE sold the shares to an Investment banker, this cannot be said to be a secondary transaction. The statement is False.
What is a secondary market share transaction?This refers to when shares have already been sold to individuals and institutional investors, and then these entities sell to other entities.
When a company sells directly to an investment bank which then sells it to others, this is a primary market transaction.
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At the beginning of year 2, a government entity had a $500,000 judgment outstanding. The government entity paid $400,000 of the judgment during year 2. The remaining balance of the judgment includes $25,000 payable early in year 3 and $75,000 payable at the end of year 4. What amount should the government entity report as a liability for the judgment in its year 2 governmental fund financial statements
The amount that the government entity report should report as a liability for the judgment in its year 2 governmental fund financial statements is $25000.
What is liability?"At the beginning of year 2, a government entity had a $500,000 judgment outstanding. The government entity paid $400,000 of the judgment during year 2. The remaining balance of the judgment includes $25,000 payable early in year 3 and $75,000 payable at the end of year 4. What amount should the government entity report as a liability for the judgment in its year2 governmental fund financial statements?
A) $500,000 B) $100,000 C) $75,000 D) $25,000
It should be noted that liability simply means the future sacrifices of economic benefit that an entity is obliged to make.
Here, the amount that the government entity report should report as a liability for the judgment in its year 2 governmental fund financial statements is $25000.
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Which is a reason why it is important to organize information before preparing a business report?.
Organizing findings when preparing a business report will help you make faster and more efficient decisions, increasing the quality of organizational processes.
What is a business report?Corresponds to a document where data and information about an organizational period are provided, which will increase the understanding of the real situation of a company in a period, assisting in decision making in a more visionary and comprehensive way, helping to create strategies in relation to the micro and macro environment.
Therefore, business reporting must be organized and structured to assist in the effective management of an organization.
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Calculate variable costs per unit, variable cost per unit for utilities and variable cost per unit for maintenance. Exclude mixed costs in the calculation for variable cost per unit. (Round answers to 2 decimal places e.g. 2.25.) Variable cost per unit (Exclude variable cost for utilities and maintenance) $ Variable cost per unit for utilities $ Variable cost per unit for maintenance
Based on the costs given for PCB Corporation, the Variable costs per unit are:
Variable cost per unit = $10Variable cost per unit for utilities = $0.60Variable cost per unit for maintenance = $0.30.What are the variable costs per unit?The variable cost per unit is:
= (Direct material + Direct labor + Indirect labor) / Units produced
= (7,500 + 18,000 + 4,500) / 3,000
= $10 per unit
The variable cost per unit for utilities is:
= (Total cost of utilities - Fixed portion of utilities cost) / Units produced
= (2,100 - 300) / 3,000
= $0.60
The variable cost per unit for maintenance is:
= (Total cost of maintenance - Fixed portion of maintenance cost) / Units produced
= (1,100 - 200) / 3,000
= $0.30
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Dyson cordless vacuum cleaners offer heavy-duty performance for cleaning all floor types. The Dyson is also very lightweight and versatile. The price for the basic Dyson model is $599. Because the Dyson provides the user with really clean floors and carpets, the Dyson is an example of _______.
Because the Dyson provides the user with really clean floors and carpets, the Dyson is an example of utilitarian value
What is a Utilitarian Value?This refers to the value that is received by a customer based on task-related behavior where there is a functional product aspect.
Hence, we can see that based on the fact that Dyson cordless vacuum cleaners offer a service for a price of $599 and gives really clean floors, they are an example of utilitarian value.
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Employers are concerned with the changing demographics of mothers in the workforce because: Multiple select question. the number of women workers with children under 18 has grown to about 75% since 1975 many single workers and single-income families do not want to subsidize child care all workers want businesses to offer free child care absences for child care cost U.S. employers billions of dollars annually
Employers are concerned about the changing demographic of mothers in the workforce because of the number of women workers with children under 18 has grown to about 75% since 1975, and all workers want businesses to offer free child care.
Who is an employer?A professional who looks after the functions and management of organization by practicing employment to a number of people as per the business requirements, is known as an employer.
Hence, options A and C hold true regarding an employer.
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Watch the video "forms of marketing research." company a is thinking about bringing to market a new product in a category where it knows very little about the consumers or their needs and wants. describe which forms of marketing research would be appropriate and explain why. by contrast, company b has an established product and knows a lot about its customers. the company wants to measure customer satisfaction. describe which forms of marketing research would be appropriate and explain why. in replies to peers, provide additional ideas for the types of research that could be used.
The primary research is the most appropriate marketing research to be used because the firm knows little about the consumers or their needs and wants.
What is a marketing research?This refers to a process through which a firm gathers information about its customer and larger market.
Form of marketing research that are appropriate?Primary researchSecondary researchQualitative researchQualitative researchRead more about marketing research
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Which type of interest does not change over the life of a loan?
Principal interest
Fixed interest
Variable interest
Annual percentage rate
Answer:
Fixed interest
Explanation:
A fixed-rate mortgage charges a set rate of interest that does not change throughout the life of the loan. You'll know exactly how much each monthly payment will be, as well as how much it will cost you overall to pay off the loan based on that rate.
The audit Mr. Chu is working on for a technology company is regulated. What does this mean?
OA. The technology company will use the audit results to analyze risks.
OB. If Mr. Chu finds evidence of fraud, he is not allowed to report it.
OC. Nobody has access to the audit findings except for a few people who work for the company.
OD. An outside organization keeps track of the methods and results of the audit.
It means that the technology company will use the audit results to analyze risks. Thus option A is correct.
What is Audit ?Audit refers to the checking of financial records of the company in order to ensure that the records are systematic and accurate. It is very helpful for the outsiders such as creditors, shareholders, government agencies etc as it provides the accurate information about transactions.
Mr. Chu will analyse the financial statements of the technology company an conclude about the risk involved in the company. Thus it helps in analyzing the risk. Therefore, option A is correct.
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Which of the following will cause an increase in Supply for the Short-Run Macroeconomic model?
A. Lower prices will increase the demand.
B. Higher prices to encourage competition.
C. The addition of only highly skilled workers.
Higher Prices can encourage competition and cause an increase in the supply for the Short-run Macroeconomic model. Therefore, Option B is the correct choice.
How supply can be increased in the short run?In the marketplace model, supply slopes up due to the profit purpose of individual firms. If a corporation receives a better price, they'll make a higher profit via way of means of selling more, so the quantity supplied will increase while the price will increase.
Therefore, Higher Prices can encourage competition and cause an increase in the supply for the Short-run Macroeconomic model. Therefore, Option B is the correct choice.
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What is an insurance premium? the value of something lost or damaged the highest payout available by an insurer the amount paid for an insurance policy the best type of insurance available
Insurance premium is: the amount paid for an insurance policy.
What is insurance premium?Insurance premium can be defined as the money that a person paid to an insurance company for insurance coverage incase of unforeseen or unexpected circumstance.
Example of insurance coverage are:
TheftAccidentFire etc.Therefore the correct option is C.
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Answer:
C
Explanation:
Edge 2022
What are the four factors of production that an economy needs in order to produce something?
Answer:
Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. The first factor of production is land, but this includes any natural resource used to produce goods and services.
When the actual price in some market is above the equilibrium price, the resulting market condition is known as
When the actual price in some market is above the equilibrium price, the resulting market condition is known as Excess Supply.
What is an Excess Supply?An excess supply is a condition where there is a surplus of goods in the market. In this condition, the price would have tiled above the equilibrium curve.
Excess supply can also be known as surplus. When the actual price of a good is above the equilibrium price, there tends to be a condition called excess supply.
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